OfflineHas anyone tried to use the new real estate analytical tool Dean came up with. Has anyone use it to find the FMV on a property you are working on? Did it give a good estimate or was it to high or low?
__________________
Has anyone tried to use the new real estate analytical tool Dean came up with. Has anyone use it to find the FMV on a property you are working on? Did it give a good estimate or was it to high or low?
In Southern CA, the values are way off. When I put in the homes I own and know the market backwards and forwards, it doesn't take into account the home's location; it looks at comps from down in areas that are not even comparable to the areas of the home. For a broad example, if you think of an area like Beverly Hills, it compares it to surrounding areas and cities which are not even in close relation to the exclusive Beverly Hills area. If you don't know the area and market yourself, it can be very misleading. I have found the worse the neighborhood is, however, the more accurate it is. It is not really a tool I can rely on unfortunately. Its demographics seem to take into account all the surrounding cities as well.
I don't know if this is how it works in all areas and states, but I have found many flaws with the information, and this is because I have home that I am on top of the market and know the area and the sales in the area very well. It could be different for other areas. I realize you posted this some time ago; you have probably figured this out by now!
These tools are powerful. They really make me feel confident and knowledgeable. I used to be a real estate agent and never saw anything like this. They have really boosted my conviction about Dean, a man who is out to help me be a successful REI.
Thank you Dean!
When the going gets tough, the tough gets going.